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New Entry Door Is The Biggest Bang For Your Remodeling Buck

Want to get the best return on your remodeling investment? Stick to the exterior of your home, according to the 2015 Cost vs. Value report from the National Association of Realtors® and Remodeling Magazine.

Realtors® across the country said a steel entry door would return 101.8 percent of its costs – the only project that had a positive return on investment.

The relatively low cost of replacing a steel entry door ($1,200) may have something to do with why it’s almost always at the top of the annual list of remodeling projects that recoup their cost.

The Cost vs. Value report tallies the opinions of Realtors® and also delivers estimates for the average cost of completing common home renovations.

To get the results from our area, you can visit the magazine’s Cost vs.Value page. Select our region and then you’ll see a list of metro areas in our region. You do have to share some personal information about your remodeling plans to get the local results.

Here’s the national data:

10 Biggest Bangs For Your Remodeling Bucks

Project

Return

Steel entry door

101.8%

Manufactured stone veneer

92.2%

Garage door replacement (midpriced)

88.5%

Fiber cement siding replacement

84.3%

Garage door replacement (upscale)

82.5%

Vinyl siding replacement

80.7%

Wood deck addition

80.5%

Minor kitchen remodel

79.3%

Wood window replacements

78.8%

Foam-backed siding replacement

77.6%

The report is a great starting point if you’re looking for data about home remodeling costs and potential returns, but nothing beats having an inside view of the local market.

The key to getting a good bang for your remodeling buck is to keep up with the Jones’ while never surpassing them. You won’t recoup the cost of putting gold-plated faucets in the bathroom of an entry-level home. Likewise, you’ll turn off luxury buyers if you put vinyl tiles down when you replace the kitchen floor of an upscale home.

If you’re thinking of remodeling, feel free to contact me, and we can discuss the options.I’m in and out of homes every day. I know the local market and what’s in the inventory of homes for sale. I see what buyers are looking for in a home, and I can tell you what’s typical for your neighborhood.

4 New Year’s 2015 Home Resolutions That Can Save You Big Money

Home Resolutions

If your New Year’s resolutions include saving money, we've got four great ways for you to achieve your goals:

Refinance

If you haven’t yet refinanced your mortgage or home equity loan to take advantage of today’s low interest rates, there’s still time to lock in a great deal. Jay Brinkmann, chief economist for the Mortgage Bankers Association, expects mortgage rates to rise to 4.8 percent in 2015, and to 5.4 percent by the end of 2016.

New Year’s resolutions don’t get much easier than vowing to change your HVAC filter once a month in 2015 to increase your furnace’s life span.

To make this task easy, buy 12 filters and store them in the furnace room so they’re at hand when you need them. Put a reminder on your calendar, or tie this chore to another monthly chore, like paying your household bills, so you remember to do it each month.

Seal Those Home Air Leaks

Sealing the air leaks in your home is one of the most cost-effective ways to cut your utility bills. Check to make sure your windows are caulked around the outside of the trim on the inside, and outside, of your home. Use foam to fill large gaps where the plumbing, electric or cable comes in the house.

Shop Your Insurance Policies

Yes, it’s a bother to shop for insurance, but if you haven’t checked what’s out there lately, you may be overpaying. The easiest way to get this chore done is to delegate. Copy the declarations pages from your current home, auto, life and umbrella policies, and ask an independent insurance agent to look for a better overall deal for you.

You can also visit your current agent, or call your insurance company and ask for an annual review to make sure you've got the right coverage and are getting all the discounts for which you qualify.

If you need a referral to a good insurance agent, mortgage loan officer or home handyperson, please contact me.